UAE to Invest $500 Million in Indonesia’s Tourism, Property Sector

JAKARTA, KOMPAS.com – The United Arab Emirates (UAE) officials are scheduled to visit Indonesia next week to further discuss their investment plan in the property sector worth $500 million, a senior minister said.

Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan said UAE will build a resort in a 40,000-hectare swamp area in Singkil in Aceh, the only Indonesian province implementing Islamic law.

“They [UAE] have surveyed the area. I have communicated with Minister Suhail [UAE's Oil Minister Suhail Mohamed Al Mazrouei] that they will visit Indonesia again from September 13-15 to discuss the project,” Luhut said in a televised message in Aceh province on Wednesday, September 8.

Also read: Indonesia Investment Authority to Receive $9.5 Billion from Foreign Investors

Luhut said that the visit of the UAE delegation will also be accompanied by a Chinese representative who is involved in the project. The minister called on the Indonesian people to refrain from any acts of xenophobia against China.

“People should not be angry when the cooperation between Indonesia and the UAE would also include China. So, we need to deal with globalization,” Luhut said.

“We can collaborate with anyone, but we have to build our national resilience. If we detach ourselves then we will lose because the world is connected,” he said.

He called on the Aceh governor and Singkil regent to also come to the upcoming meeting in Jakarta as the UAE delegation will discuss their investment projects in the tourism and property sector.

Also read: Indonesia, China Meet in Lake Toba to Discuss Investment, Covid-19 Handling

It was reported that Abu Dhabi Crown Prince Mohammed bin Zayed al-Nahyan was planning to build a resort in Singkil, Aceh. Luhut said the Crown Prince hoped that there would be a direct flight from Abu Dhabi to Aceh.

Apart from the UAE, he said, other countries such as South Korea and China are also keen to invest in Indonesia. Foreign companies such as Samsung, Hyundai, and Chinese entrepreneurs have also expressed their interest to invest in the country.

He also invited Samsung to invest in Indonesia’s hi-tech industries as Indonesia is blessed with raw materials to support various industries. Luhut said the Indonesian government provides incentives to facilitate foreign investment, but no elaborate.

(Writer: Ade Miranti Karunia | Editors: Bambang P. Jatmiko, Ambaranie Nadia Kemala Movanita)

Sources: https://money.kompas.com/read/2021/09/08/163207526/luhut-sebut-ada-sederet-investor-asing-akan-berinvestasi-di-ri.

https://money.kompas.com/read/2021/09/08/133208226/uea-akan-investasi-500-juta-dollar-as-untuk-bangun-resort-di-aceh-singkil